Samsung Electronics said Monday it will retain the positions of its two current CEOs going forward. CEOs JH Han and Kyung Kye-hyun will each continue to lead the Device Experience and Device Solution divisions, respectively, the company said in its year-end shakeup announcement. Samsung explains maintaining their positions given the current “harsh commercial reality”.
The tech giant is seeing its profits plummet due to falling demand for memory chips and consumer electronics, which had spiked during the pandemic. Samsung saw its first annual profit decline in three years during the third quarter, and analysts expect the company to post similar results in the fourth quarter.
In addition, fundamentally, its traditionally strong businesses, such as mobile telephony and television, are experiencing a slowdown in growth. At the same time, its logic businesses, Samsung Foundry and Samsung System LSI, which the company sees as its next growth drivers, have posted mixed performance over the past two years.
Younghee Lee appointed Global Market Head of Device Experience Division
At the same time, Samsung also announced the appointment of its first wife as president. This is the highest management position within the electronics manufacturer, right after CEO and VP.
President Younghee Lee has been named global market leader for the Device Experience Division, or DX Division. Known as a marketing expert and having previously worked at L’Oréal, she joined Samsung in 2007.
She was instrumental in promoting Samsung’s Galaxy smartphone brand when the company’s mobile smartphone business was booming in the early 2010s under then-CEO JK Shin. .
Source: ZDNet.com